Only 50 companies will be licensed to use Mustang's 50th anniversary logo, and Shinola, which started out as a shoe polish company in 1929 before moving into luxury goods, seemed like a natural match.

The Mustang's 50th birthday is on April 17, 2014.

“Like the Mustang itself, we want our licensed products to convey an attitude of strength, passion and quality,” said John Nens, Ford lead for global brand licensing. “Shinola embodies all of these things and is a perfect fit to celebrate this special moment in automotive history.”

The 46-millimeter wristwatch will be hand-assembled with Swiss movements and will feature the “Mustang 50 years” logo on its face, a scratch resistant sapphire-crystal dome and a black leather watchstrap.

The limited-edition timepiece -- only 1,000 are slated to be built -- will set you back $700, plus $25 for shipping. They can be ordered at the Mustang 50 Years Merchandise Collection online. The website also points out watch orders will not be shipped until October 2013.

Details about how the watch will be crafted can be seen in the video below.